Consolidated Financial Statements
Consolidated statement of income Consolidated statement of income
| January 1 to December 31, in million € | Note | 2008 | 2007 |
| Sales | 4 | 12,336 | 11,358 |
| Cost of sales | 5 | -8,408 | -7,680 |
| Gross profit | 3,928 | 3,678 | |
| Selling, general and administrative expenses | 8 | -1,972 | -1,885 |
| Research and development expenses | -479 | -184 | |
| Operating income (EBIT) | 1,477 | 1,609 | |
| Interest income | 9 | 25 | 27 |
| Interest expenses | 9 | -456 | -395 |
| Other financial result | 10 | 68 | 0 |
| Financial result | -363 | -368 | |
| Earnings before income taxes and minority interest | 1,114 | 1,241 | |
| Income taxes | 11 | -440 | -448 |
| Minority interest | 26 | -404 | -383 |
| Net income | 270 | 410 | |
| Basic earnings per ordinary share in € | 12 | 1.71 | 2.64 |
| Fully diluted earnings per ordinary share in € |
12 | 1.58 | 2.61 |
| Basic earnings per preference share in € | 12 | 1.72 | 2.65 |
| Fully diluted earnings per preference share in € | 12 | 1.59 | 2.62 |
| The following Notes are an integral part of the Consolidated Financial Statements. |